Fintech regulation could drive competitive growth in Mexico

Mexico is making the greatest strides in Latin America when it comes to regulating the fast growing fintech industry.

A new bill doing the rounds promises to protect consumers and stimulate competition, keep a watchful eye over payment security and cryptocurrencies, and prevent money laundering or terrorist funding.

It’s a notably progressive step for Mexico to take. It will join a select number of other countries like Germany that have introduced explicit fintech legislation. According to Federico de Noriega Olea, partner at the Mexican offices of law firm Hogan Lovells, the law should provide more legal certainty for firms to carry out and expand their businesses, which may also mean greater access to funds.

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